Netherlands Manufacturing PMI Drops To 49.7.

Markit

"May data marked the second successive month that employment has been reduced in line with persistent spare capacity in the sector. Backlogs of work were down in May for a fourteenth successive month and at a steep rate."

Source: Markit

South Korea PMI Drops To 51.0

Markit

"Job creation was recorded for a third successive month in the sector. However, the latest increase in staff numbers was only marginal, in part reflecting a near- stabilization of backlogs of work at goods producers."

Source: Markit

Taiwan PMI Drops to 50.5

Markit

"Staffing levels dipped slightly during May, as manufacturers held off from raising capacity in response to the slowdown in growth. The reduction to employment was only marginal, but nonetheless ended a five-month period of modest gains in payroll numbers."

Source: Markit

Vietnam PMI Drops to 48.3

Markit

"Manufacturers in Vietnam indicated that a marginal rate of net jobs growth was maintained in May, which extended the current period of employment growth to three months. Survey respondents mostly attributed this to longer-term expansion plans at their units. Higher staffing levels in turn contributed to a moderate decline in work-in-hand (but not yet completed). Lower backlogs have now been recorded in seven of the past eight months, reflecting increased operating capacity and, in some cases, relatively subdued new order inflows."

Source: Markit

China PMI Drops to 48.4

Markit

"Reduced intakes of new business contributed to another month of job shedding, with the rate of decline the sharpest in 38 months. Companies have now reduced their staff numbers in each of the past three months."

Source: Markit

Indonesia PMI Drops to 48.1

Markit

"Indonesian manufacturers reported decreases in both backlogs of work and employment during May. Although moderate, the fall in staffing levels was the fastest since April 2011."

Source: Markit

Russia PMI Rises to 53.2

Markit

"The robust gain in new work mid-way through the second quarter generated higher employment and purchasing activity. Workforces expanded on average for the second month running, and at the fastest rate since March 2011. Input buying increased for the fourth successive month."

Source: Markit

India PMI Remains at 54.8

Markit

"Power shortages, as well as insufficient employee numbers, led to a marked accumulation of backlogs of work that was only fractionally weaker than March’s series record. Reflecting this, manufacturers increased employment levels in May, although the rate of job creation was again modest."

Source: Markit

Ireland PMI Rises to 51.2

Markit

"Manufacturers raised their employment for the third month running in May amid increased workloads. The pace at which staff were taken on was solid, and the sharpest since March 2011."

Source: Markit

Australia PMI Drops to 42.4

Markit

"Seven out of 12 sub-sectors experienced a decrease in employment this month, with significant declines recorded in the textiles; food & beverage; and wood products & furniture sub-sectors."

Source: Markit

Poland PMI Drops To 48.9

Markit

"The main bright spot from the latest survey findings was a sustained increase in employment at Polish manufacturers. That said, the rate of job creation was only marginal."

Source: Markit

Turkey PMI Drops to 50.2

Markit

"New export orders, on the other hand, showed a slight improvement, suggesting that the slowdown in economic activity is driven more by moderating domestic demand, while Turkish exporters continue to successfully diversify geographies for trade. Employment still continued to improve at a decent clip, albeit at the slowest pace this year." - Dr. Murat Ulgen, Markit Economist

Source: Markit

Spain PMI Drops to 42.0

Markit

"Employment continued to fall as manufacturers restructured workforces in response to lower demand. The rate of job shedding intensified from that seen in April."

Source: Markit

Czech Republic PMI Drops to 47.6

Markit

"Manufacturing employment has fallen six times in the past seven months, and the rate of job shedding accelerated slightly in the latest period. The trend for purchasing activity followed the same pattern. This alleviated pressure on supply chains, and vendor delivery times were unchanged from April on average."

Source: Markit

Italy PMI Rises to 44.8

Markit

"Employment at manufacturers in Italy fell again during May, as a number of firms made redundancies and left voluntarily vacated positions unfilled. The overall reduction in payroll numbers was solid, albeit less marked than April’s 27-month record fall. Staffing levels in the sector have dropped in each of the past ten months."

Source: Markit

France PMI Drops to 44.7

Markit

"Outstanding business meanwhile declined for the ninth time in the past ten months, while firms cut employment further. The pace of job shedding quickened to the sharpest since September 2009."

Source: Markit

German PMI Drops to 45.2

Markit

"In line with lower new order inflows and decreased production requirements, employment levels fell for the second month running in May. Although the rate of job shedding was relatively modest, the latest reduction in staffing levels was the most marked since February 2010."

Source: Markit

Greek PMI Rises to 43.1

Markit

“Despite rising to an eight-month high, the headline PMI remained deep inside contraction territory during May as output, new orders, stocks and employment all continued to be cut at rapid rates" - Paul Smith, Markit Economist

Source: Markit

United Kingdom PMI Drops to 45.9

Markit

“Companies are subsequently becoming much more cost cautious, with manufacturers cutting employment for the first time in five months and reducing stock levels in anticipation of ongoing weak demand in coming months" - Rob Dobson, Senior Economist at Markit

Source: Markit

Brazil PMI Remains at 49.3

Markit

"Job losses were reported in Brazil’s manufacturing sector for the second successive month in May. Panellists that reduced their workforces generally commented on lower production requirements. That said, staffing levels fell only marginally in May, with the rate of decline having eased since April."

Source: Markit

United States PMI Drops to 54.0

Markit

"Manufacturing employment continued to rise in May, with job creation slowing but still running at a pace only slightly lower than seen on average in the first quarter and throughout last year. The final employment reading was unchanged on the preliminary flash index."